Banking News

The prospect of record low savings rates continuing is forcing many savers to review how they allocate their capital in an attempt to achieve the level of returns they have previously enjoyed. Investing in the stock market inevitably involves putting your capital at risk however there is a middle ground which continues to attract increasing interest – the structured deposit. With this in mind, we take a deeper look at this savings alternative to help understand why more and more savers are starting to see their appeal. more

With the current economic environment asking savers far more questions than it gives answers, it is good to know that there are alternatives available. We take a look at one such alternative that is proving particularly popular as savers face the harsh reality that the more traditional fixed rate savings products are failing to meet their needs. more

Millions of savers are facing the harsh realisty that there is little hope of change to interest and savings rates in the coming years. However, those with Cash ISAs do have one further option to consider – the ISA transfer. We take a closer look at why this is becoming a rising trend as well as what this could mean for those looking for the potential to improve the returns from their capital. more

With so many savers joining income investors in the hunt for high yields, being able to quickly understand and compare the numerous options available has become even more important. We therefore compare two of our most popular income investments to help understand what is driving their popularity and why they might meet your income needs. more

Lloyds Banking Group job losses to top 16,000

22 January 2010 / by Rebecca Sargent

Job losses at Lloyds Banking Group look set to top 16,000 as the troubled bank has announced 400 job losses, with a further 185 on the cards.

The job cuts will be on top of the 15,500 job losses at Lloyds Banking Group last year, bringing the total to more than 16,000.

The latest round has come as a result of the banking group's decision to close all of the Black Horse personal finance centres.

Commenting on the news, Rob MacGregor, national officer at employees union Unite, said: "Unite is deeply disappointed that the Lloyds Banking Group has taken the decision to close all of the Black Horse centres with the loss of 400 jobs.

"At a time when many families are struggling to control their finances and businesses need access to credit, Unite is opposed to the shutting down of these valued local centres."

Unite is warning Lloyds against repeating the thousands of job cuts it made last year. Mr MacGregor adds: "The strategy last year has had a devastating effect on staff and created job insecurity for most colleagues."

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